There are a couple of good articles on mises that puts an end to this notion of ” velocity ” of currency .
1) which class available on this site best deals with this issue specifically .
2) would it be possible if Tom or Robert (Murphy ) addressed this on a podcast or in a YouTube video ?
I’m thinking something like a quick hits page much like the Ron Paul the constitution and he dollar type thing if there is enough info on this topic .
Sometimes even though it’s clearly stated in mises it’s a bit over my head .
There is no critique in the class material of the concept of “velocity” of money. The Austrian analysis of the purchasing power of money or price inflation is in the lecture on the “Money Market” in the course on Austrian Economics.
Mises has a critique of the quantity theory of money in his book, The Theory of Money and Credit:
The basic point is that nothing more can be learned about the price of a good by using the concept of velocity. The price of cars is determined by demand and supply. We don’t need to know anything about the “velocity” of cars to understand how the price is determined. The price of money or its purchasing power is also determined by demand and supply. Velocity of money adds no additional insight to the analysis.